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  • Robotic technology company FBR (FBR) receives firm commitments from a Brickworks subsidiary to raise over $1.9 million
  • The funds will be raised through the issue of more than 107 million shares at a price of 1.8 cents – a 15 per cent discount to the 30-day volume-weighted average price
  • Following the issue of the shares, Brickworks will hold a 4.93 per cent stake in FBR via a wholly-owned subsidiary
  • FBR will use the money to commission the next-generation Hadrian X which speeds up the bricklaying process by using FBR stabilisation technology
  • Shares in FBR are up 9.52 per cent on the market and are trading at 2.3 cents at 11:47 am AEST

Robotic technology company FBR (FBR) has received firm commitments from a Brickworks subsidiary to raise $1.92 million.

The funds will be raised through the issue of 107,201,578 shares at a price of 1.8 cents – a 14 per cent discount to FBR’s closing price of 2.1 cents and a 15 per cent discount to the 30-day volume-weighted average price.

Following the issue of the shares, Brickworks will hold a 4.93 per cent stake in FBR via a wholly-owned subsidiary.

FBR will use the money to commission the next-generation Hadrian X and working capital.

Hadrian X speeds up the bricklaying process by using FBR’s stabilisation technology to measure movement caused by wind, vibration and inactivity.

It then counteracts it in real-time by using advanced algorithms to provide precision.

The control system uses computer-aided designs to create a 3D model of the building, essentially telling Hadrian X what to build and which materials it will need.

Shares in FBR were up 9.52 per cent on the market and were trading at 2.3 cents at 11:47 am AEST.

FBR by the numbers
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